Bidenomics
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One of Donald Trump’s leading economic advisers now admits he was wrong about the predictions he made for the economy under President Joe Biden.“Mea culpa,” Fox Business host Larry Kudlow said on the air Thursday. “I was wrong about the slowdown and the recession, so was the entire forecasting fraternity.”
Kudlow made a similar confession about the strength of the economy last month when the gross domestic product GDP jumped faster than expected.“He gets his due,” Kudlow said of Biden. “If I were he, I would be out slinging that hash, too. No problem.”
@taiwan_girl said in Bidenomics:
One of Donald Trump’s leading economic advisers now admits he was wrong about the predictions he made for the economy under President Joe Biden.“Mea culpa,” Fox Business host Larry Kudlow said on the air Thursday. “I was wrong about the slowdown and the recession, so was the entire forecasting fraternity.”
Kudlow made a similar confession about the strength of the economy last month when the gross domestic product GDP jumped faster than expected.“He gets his due,” Kudlow said of Biden. “If I were he, I would be out slinging that hash, too. No problem.”
I don't think he was wrong about what will happen, he was wrong about the timing.
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The Washington Post carries water:
Inflation has fallen. Why are groceries still so expensive?
Americans are finally getting a break from inflation, with prices for gasoline, used cars and health insurance all falling over the past year, relieving families and buoying President Biden’s 2024 reelection bid. But prices painfully remain high for one particularly frequent purchase: groceries.
Grocery prices have jumped by 25 percent over the past four years, outpacing overall inflation of 19 percent during the same period. And while prices of appliances, smartphones and a smattering of other goods have declined, groceries got slightly more expensive last year, with particularly sharp jumps for beef, sugar and juice, among other items.
Stubbornly high grocery prices represent a critical drain on the finances of tens of millions of people and remain, along with housing, perhaps the most persistent economic challenge for the Biden administration as it tries to convince Americans the economy is back on solid footing. For all the attention on gas prices and housing, more than two-thirds of voters say inflation has hit them hardest through higher food prices, according to a November 2023 survey by Yahoo Finance/Ipsos. That’s more than 50 percentage points higher than any other category.
"Inflation has fallen."
No, the rate of inflation has slowed. There's a difference. Is the price of gas lower than it was last year? Yeah. Now go back 3 years, and get back to me.
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The Washington Post carries water:
Inflation has fallen. Why are groceries still so expensive?
Americans are finally getting a break from inflation, with prices for gasoline, used cars and health insurance all falling over the past year, relieving families and buoying President Biden’s 2024 reelection bid. But prices painfully remain high for one particularly frequent purchase: groceries.
Grocery prices have jumped by 25 percent over the past four years, outpacing overall inflation of 19 percent during the same period. And while prices of appliances, smartphones and a smattering of other goods have declined, groceries got slightly more expensive last year, with particularly sharp jumps for beef, sugar and juice, among other items.
Stubbornly high grocery prices represent a critical drain on the finances of tens of millions of people and remain, along with housing, perhaps the most persistent economic challenge for the Biden administration as it tries to convince Americans the economy is back on solid footing. For all the attention on gas prices and housing, more than two-thirds of voters say inflation has hit them hardest through higher food prices, according to a November 2023 survey by Yahoo Finance/Ipsos. That’s more than 50 percentage points higher than any other category.
"Inflation has fallen."
No, the rate of inflation has slowed. There's a difference. Is the price of gas lower than it was last year? Yeah. Now go back 3 years, and get back to me.
@George-K said in Bidenomics:
The Washington Post carries water:
Inflation has fallen. Why are groceries still so expensive?
Americans are finally getting a break from inflation, with prices for gasoline, used cars and health insurance all falling over the past year, relieving families and buoying President Biden’s 2024 reelection bid. But prices painfully remain high for one particularly frequent purchase: groceries.
Grocery prices have jumped by 25 percent over the past four years, outpacing overall inflation of 19 percent during the same period. And while prices of appliances, smartphones and a smattering of other goods have declined, groceries got slightly more expensive last year, with particularly sharp jumps for beef, sugar and juice, among other items.
Stubbornly high grocery prices represent a critical drain on the finances of tens of millions of people and remain, along with housing, perhaps the most persistent economic challenge for the Biden administration as it tries to convince Americans the economy is back on solid footing. For all the attention on gas prices and housing, more than two-thirds of voters say inflation has hit them hardest through higher food prices, according to a November 2023 survey by Yahoo Finance/Ipsos. That’s more than 50 percentage points higher than any other category.
"Inflation has fallen."
No, the rate of inflation has slowed. There's a difference. Is the price of gas lower than it was last year? Yeah. Now go back 3 years, and get back to me.
In 2020 we were offered a subscription to WaPo through our Prime membership for $3.99 per month. Now the price is $7.99 per month. The expected costs by the end of the year is $11.99 per month.
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I’m also pretty sure that rent, real estate prices, and mortgage rates are still up there too…
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"The cost of eggs, milk, chicken, gas,
Eggs - (granted, they aren’t as high as they were during the insane spike last year, but they are still up 63% from when he took office, and are rising over the last several months.
Milk -
Chicken -
Gas - https://fred.stlouisfed.org/graph/fredgraph.png?g=1fpMT
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This is extremely dangerous rhetoric
The Brad
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This is extremely dangerous rhetoric
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But Goerge, companies lay off people all the time, even when the economy is going up.
https://www.fool.com/investing/2020/01/07/these-25-companies-laid-off-workers-in-2019.aspx
Ford
Disney
Lowes
Tesla (7% of workers)
HBSC (12%)
HP (15%)
etc etc -
Those greedy and evil
Jewsmerchants! -
I wouldn’t buy her saying water is wet. She’s the prime example of my theory of two kinds of people. One tells you it’s raining and you just think “oh, it’s raining”. Then there’s the other type who tells you the same thing and you ask yourself why they would want it to be raining.
